RISMEDIA, June 22, 2010—The Triangle Multiple Listing Service, Inc. announced that there were 2,083 closed home sales in May 2010 for Durham, Johnston, Orange and Wake counties, up 26% over the same period 12 months earlier, an impressive figure given that the federal tax credit stimulus ended April 30. The average sales price of a re-sale in the four-county market was up compared to May 2009 as well, at $222,800, an increase of 3%.
According to the organization, there are 14,101 active listings within the four main counties, an increase of 7% compared to May 2009 inventory levels. New home listings stand at 2,590, a decrease of 21% over new home inventory levels 12 months ago. There are 11,511 re-sale listings, an increase of 16% compared to May 2009 re-sale inventory levels.
Other figures for May include 2,953 new listings entered into the system during the month, which represents a 33% decrease compared to new listings entered into the system during May 2009. Listings where the status was changed from active to withdrawn increased by 2%, and listings where the status was changed from active to expired decreased by 1%, both compared to 12 months ago.
There were 53,105 showings within the four-county market areas during the month, a 30% decrease over the same period in 2009. There were 1,716 listings taken off the market during the month with a status changed to pending, contingent or closed, a decrease of 6% compared to May 2009.
The current supply of all housing within the four main counties is 7 months based upon closings last month, as compared to 8 months in May 2009.
Individual counties had the following activity in May (percentage change figures stated are compared to 2009):
Wake – Closings were up 29.7%, and the median sales price was up 2.3%. The median number of days on the market was 99, and the median sales price/list price ratio was 97.3%.
Durham – Closings were up 14.8%, and the median sales price was off 1.8%. The median number of days on the market was 87, and the median sales price/list price ratio was 97.0%.
Orange – Closings were up 17.3%, and the median sales price was up 11.6%. The median number of days on the market was 106, and the median sales price/list price ratio was 96.6 %.
Johnston – Closings were up 36.1%, and the median sales price was up 16.2%. The median number of days on the market was 117, and the median sales price/list price ratio was 97.1%.
For more information, visit www.TriangleMLS.com.
Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com